Trade Summary Market - 03/01/2013

WRITTEN BY THARANGA SENARATNE

Jan 03, 2013 (LBT) - The market extended its stride in the green with positive sentiments stemming from the revival in retail activity. The ASPI crossed the 5,700 mark today while its positive sprint led the index to a peak at 5,738.84 points (+55 points), before settling at 5,730.45 (+46 points), the highest since 12.10.2012. Two counters gained for every one that dipped denoting major contributions from Ceylon Tobacco Company (+1.0%), People’s Leasing and Finance (+6.1%) and NDB Capital Holdings (+5.6%). The S&P SL20 index secured a 13 point gain at 3,104.25 points, the highest since 10.10.2012.

Banking sector player, Hatton National Bank emerged to spearhead the day’s turnover list during mid-day trading on the back of a single block of c.117k shares which was handled in the market at LKR147.0. Following the on-board block were three crossings amounting to c.644k shares which were transacted at a similar price. Interest in heavyweight, John Keells Holdings, led the counter to touch a peak of LKR220.0 at which it encountered two off-board blocks totaling 200k shares during the final trading hour. Interest in People’s Leasing and Finance and its subsidiary, People’s Finance, heaved up as each advanced a solid 7.6% and 5.0% at their intra-day high levels while the latter touched a new 52-week high at LKR37.1 supported by strong buying interest.

The retail hunt surfaced as Nation Lanka Finance (-1.8%) secured its stance in the top turnover slot while some selling pressure was witnessed in Asia Asset Finance (+0.0%) and Central Investment & Finance Company (-2.0%) following yesterday’s rally. Swarnamahal Financial Services witnessed several mid–sized parcels accumulating to around 545k shares being taken in the market as it closed the day with a 12.2% gain at LKR3.7. Further penny stocks Sierra Cables and Free Lanka Capital Holdings too gathered some retail participation. Colombo Dockyard witnessed renewed buying interest today having recorded a few trades at its peak of LKR230.0 (+4.5%). Interest emerged in S&P Caliber counters; Asian Hotels and Properties and Aitken Spence Hotel Holdings with both depicting some focus during early trading denoting gains of 1.7% and 2.7% at their respective peaks of LKR76.4 and LKR75.0.

Gains in Ceylon Tobacco Company extended on thin volumes, leading the counter to renew its 52-week high at LKR849.5 (+2.1%) while The Lion Brewery of Ceylon touched a 52-week peak at LKR296.0 (+3.8%). Asian Stocks Rise on US Manufacturing, China Services; European Stocks Rise Amid Swiss Rally on US Budget Deal: Asian stocks rose, pushing a regional equities index to its highest level in 17 months. The MSCI Asia Pacific Excluding Japan rose 0.2% to 477.17 as of 11:33 a.m. in Hong Kong. The Stoxx Europe 600 Index gained 0.4% to 286.32 at 8:08 a.m. in London. Oil Slips from Highest in Three Months on Signs Gains Excessive: Oil slid for the first time in three days in New York on speculation that its surge to the highest level in three months yesterday may have been excessive. West Texas Intermediate for February delivery dropped as much as 63 cents to USD92.49 a barrel in electronic trading on the New York Mercantile Exchange. Brent for February settlement fell 41 cents to USD112.06 a barrel on the London-based ICE Futures Europe exchange.
http://lbt.lk/stock-market/movement/3347-lbt-market-thursday